Prologis (NYSE:PLD) Price Target Cut to $123.00 by Analysts at Barclays

Prologis (NYSE:PLD) had its target price trimmed by Barclays from $135.00 to $123.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Prologis from $128.00 to $145.00 and gave the stock an outperform rating in a research note on Friday, February 16th. Robert W. Baird increased their price objective on shares of Prologis from $133.00 to $137.00 and gave the stock a neutral rating in a research note on Tuesday, January 23rd. Raymond James increased their price objective on shares of Prologis from $130.00 to $145.00 and gave the stock a strong-buy rating in a research note on Wednesday, January 24th. BMO Capital Markets downgraded shares of Prologis from an outperform rating to a market perform rating and reduced their price objective for the stock from $145.00 to $112.00 in a research note on Monday, April 22nd. Finally, Morgan Stanley increased their price objective on shares of Prologis from $128.00 to $141.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $133.53.

Prologis Price Performance

Shares of NYSE PLD opened at $105.03 on Monday. The firm has a market cap of $97.24 billion, a PE ratio of 30.71, a PEG ratio of 2.17 and a beta of 1.00. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51. Prologis has a 1-year low of $96.64 and a 1-year high of $137.52. The company has a fifty day moving average price of $124.49 and a 200 day moving average price of $121.98.

Prologis Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a $0.96 dividend. This is a boost from Prologis’s previous quarterly dividend of $0.87. This represents a $3.84 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, March 15th. Prologis’s dividend payout ratio is currently 112.28%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Columbia Trust Co 01012016 increased its holdings in shares of Prologis by 16.0% during the fourth quarter. Columbia Trust Co 01012016 now owns 5,240 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 723 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in shares of Prologis by 39.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 42,005 shares of the real estate investment trust’s stock worth $5,599,000 after purchasing an additional 11,882 shares during the period. DNB Asset Management AS increased its holdings in shares of Prologis by 17.1% during the fourth quarter. DNB Asset Management AS now owns 287,505 shares of the real estate investment trust’s stock worth $38,324,000 after purchasing an additional 42,073 shares during the period. Grassi Investment Management increased its holdings in shares of Prologis by 31.8% during the fourth quarter. Grassi Investment Management now owns 252,146 shares of the real estate investment trust’s stock worth $33,611,000 after purchasing an additional 60,900 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its holdings in shares of Prologis by 255.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 16,124 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 11,582 shares during the period. 93.50% of the stock is owned by institutional investors.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.